Forex Signal For GBP/USD: Sterling Hopes to Rise to 1.2300 Ahead of BOE
Forex Signal For GBP/USD: Sterling Hopes to Rise to 1.2300 Ahead of BOE
The pair will likely continue to rise as long as buyers target the key resistance at 1.2300.
Bull Market Outlook
- Buy the GBP/USD pair and take a profit at 1.2300.
- Add a stop-loss at 1.2050.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Sterling Hopes to Rise to 1.2300 Ahead of BOE
Bear Market Outlook
- Take a sell stop at 1,2130 and a profit at 1,2050.
- Add a stop-loss at 1,2250.
The GBP/USD price rose as investors reflected on last week's Federal Reserve decision and the upcoming Bank of England (BoE) meeting, with the pair hitting 1,2230, its highest point since June 28 this year.
It's up about 3,60% from this year's low.
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